I recently wrote a blog for my Financial / Insurance company Forever Young Financial and Insurance discussing how you should invest your tax refund. I see all too often a lot of my friends and clients wasting their refunds on what I call vanity purchases. To me a vanity purchase would be a new tv, designer clothes, a car and so on.
I understand it is your money that you’ve earn throughout the year, but if you think about it really think about it, how much gratification does this purchase give you? It may feel good for a day or so, but buying these vanity purchases have no long term effect on you. But you know what does? Investing in your future self.
Setting yourself up for retirement little at time takes that elephant out of the room and makes it manageable. If your refund is $3,000 why not take $1,500 and invest it in something that will make your retirement that much easier. You still have $1500 left over to purchase something for yourself.
Before you get spend that refund, I suggest reaching out to me, or someone at Forever Young and discuss a plan. You can read my blog here. Please send me a message or start a discussion below. Someone like you is think the same thing, however they are waiting on YOU to start the discussion.